Wholesale e-commerce app Boxed wraps up USD1.1m

Boxed, a US-based e-commerce app, has received USD1.1m in funding from ENIAC Ventures, Social Starts and 15 Angels. Boxed, which launched in 2013, allows users to order wholesale goods via mobile and offers free two-day delivery on orders more than USD75.

The app is designed to save customers time through shipping the same type of goods they would get at a warehouse club direclty to the customer’s door. This is accmplished by the company stocking its own warehouse with the most popular items customers tend to buy at those retail outlets. Whilst a major retailer might have 4000 or 5000 items in its stores, Boxed alternatively keeps 500 SKUs available for users in its own warehouse, according to co-founder and CEO Chieh Huang.

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